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The risk of policy tipping and stranded carbon assets
Ploeg, Frederick van der; Rezai, Armon - 2019 - Revised July 2019
capitalization, exploration investment and discoveries. To explain and quantify these four effects, we use an analytical model of … investment in exploration capital with intertemporal adjustment costs, depletion of reserves and market capitalization, and …
Persistent link: https://www.econbiz.de/10012039083
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Prediction and identification in two-sided markets
Boik, Andre - 2018
answers and can be used to estimate market power and pass through rates. I show that even a naive one-sided model that ignores …
Persistent link: https://www.econbiz.de/10011789113
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The tradeoff between indirect network effects and product differentiation in a decarbonized transport market
Andreassen, Gøril L.; Rosendahl, Knut Einar - 2020
What factors determine whether it is optimal with one or more technologies in a decarbonized road transport sector, and what policies should governments choose? We investigate these questions theoretically and numerically through a static, partial equilibrium model for the road transport market....
Persistent link: https://www.econbiz.de/10012219356
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Externalities in risky resource markets : optimal taxes, leakage and divestment : presented at CESifo Area Conference on Energy and Climate Economics, October 2015
Habermacher, Florian - 2016
uncertain fuel market returns. Without uncertainty, the unilateral investment tax is welfare-neutral: costless but ineffective … divestment. With uncertainty, the regional investment choice affects global fuel usage, and correspondingly the optimal regional … fuel policy contains a investment tax in addition to taxes on deposit supply and consumption. Even absent terms …
Persistent link: https://www.econbiz.de/10011454043
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Effects of unilateral climate policy on terms of trade, capital accumulation, and welfare in a world economy
Farmer, Karl (contributor); Friedl, Birgit (contributor);  … - 2008
, if the country which unilaterally reduces her emission permits is a net creditor to the world economy, her own welfare …
Persistent link: https://www.econbiz.de/10003749461
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Predictability of asset returns and the efficient market hypothesis
Pesaran, M. Hashem - 2010
This paper is concerned with empirical and theoretical basis of the Efficient Market Hypothesis (EMH). The paper begins with an overview of the statistical properties of asset returns at different frequencies (daily, weekly and monthly), and considers the evidence on return predictability, risk...
Persistent link: https://www.econbiz.de/10003983206
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Climate policies : a burden or a gain?
Bréchet, Thierry; Tulkens, Henry - 2013
That climate policies are costly is evident and therefore often creates major fears. But the alternative (no action) also has a cost. Mitigation costs and damages incurred depend on what the climate policies are; moreover, they are substitutes. This brings climate policies naturally in the realm...
Persistent link: https://www.econbiz.de/10009722000
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The green paradox in open economies
Long, Ngo Van - 2014
This paper explains how, in the context of incomplete coordination among all countries, unilateral policies that might at first sight seem pro-green could actually turn out to harm the global environment. The free-riding motives and the difficulty of reaching an effective international...
Persistent link: https://www.econbiz.de/10010245993
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Technology agreements with heterogeneous countries
Hoel, Michael; Zeeuw, Aart de - 2014
For sufficiently low abatement costs many countries might undertake significant emission reductions even without any international agreement on emission reductions. We consider a situation where a coalition of countries does not cooperate on emission reductions but cooperates on the development...
Persistent link: https://www.econbiz.de/10010246011
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A general approach to recovering market expectations from futures prices with an application to crude oil
Baumeister, Christiane; Kilian, Lutz - 2016
Futures markets are a potentially valuable source of information about price expectations. Exploiting this information has proved difficult in practice, because time-varying risk premia often render the futures price a poor measure of the market expectation of the price of the underlying asset....
Persistent link: https://www.econbiz.de/10011434566